The consequences of a natural disaster can be devastating; the harm suffered by innocent victims can be physical, emotional, and financial. When the Bankruptcy Abuse Prevention and Consumer Protection Act was passed, it made no accommodations for victims of natural disasters who needed to file for bankruptcy. After the consequences of Hurricane Katrina made it clear that BAPCPA regulations needed to be modified, emergency measures were adopted to help suffering victims.
Now, there are guidelines established by the US Trustee’s office to alleviate bankruptcy under catastrophic conditions. If you are thinking about filing for bankruptcy, knowing the law is an important first step. Contact the Birmingham bankruptcy lawyers of [firm-name] today at [phone-number] to learn more.
If a disaster impairs a debtor’s ability to pursue bankruptcy, BAPCPA regulations may be loosened to provide much needed financial stability. In extreme circumstances, the US Trustee’s office has authorized the following changes:
As the Trustee’s office is responsible for the execution of bankruptcy law, these additions to BAPCPA are generally considered applicable in court. However, these changes are not law. Judges are allowed to suspend these guidelines and apply the original BAPCPA regulations if they deem that decision prudent.
If you are considering filing for bankruptcy, contact the Birmingham bankruptcy attorneys of [firm-name] at [phone-number] to discuss your future with a legal professional today.